If you are looking for student loans for single mothers, then you are on the right track. It sounds like you truly want to change your life for the better. With so many grants for single mothers out there, you can practically go back to school and earn a great degree without paying too much in loans.
See, the difference between grants and loans is this: grants never have to be repaid, whereas loans obviously do. It’s important that you find as many grants for which you can qualify as possible. Finding scholarships for single mothers is another avenue you can take, as financial aid for single mothers is definitely on the rise nowadays. President Obama himself has even stated that he will do whatever it takes to help single mothers achieve their educational goals by providing them with more access to grants and scholarships.
Government Student Loans For Single Mothers
After you qualify for whichever grants and scholarships you apply for (hopefully), your financial aid department at the college you attend will help you with the remainder of the financial aid for single mothers. This student loans for single mothers comes in the form of government loans and private loans. If you’re attending a private school, then the financial aid department will be extremely helpful and be available to you the majority of the time to answer any questions you may have. However, a community college is different – be prepared to do the majority of the research by yourself. They will help guide you in the direction you need to go, but since they are a public college they have less of a vested interest in you. Either way, it’s better that you find out this information on your own with a bit of guidance. The government loan program called DirectLoans program, will be able to offer you government loans to cover most of your education costs – depending on your financial need. Obviously, if you are in dire financial need and want to improve your life by going to school, then you’ll qualify for this program. When you do qualify, you’ll be awarded a generous loan package that will cover said educational costs and you do not have to repay these loans while you’re in school. Loan repayment will happen after 6 months of your graduation date. There are quite a few more restrictions and qualifications that you must adhere to and you can find out quite a bit more by visiting their website directly or speaking to someone at your financial aid department.
If you do not qualify for a government loan, then you’ll most likely be tagged into the private loan sector. If this is the case, you’ll need to get a private loan through a bank for educational reasons. Most people will qualify for the government loans though, especially if you’re a single mother.